Business Standard

Sugar output in India set to fall on dry weather, says Kingsman

Related News

Sugar output in India, the world's second-biggest producer, may be less than forecast next year as a drought threatens to in some areas, lowering exports, broker said.

Production may total 25 million tonnes in the year starting October 1, compared with 25.5 million tonnes forecast in June, Kingsman said. The estimate matches those by the Indian Sugar Mills Association and the Ltd. Output this year is set to total 26 million tonnes, it said. A smaller crop and a rally in domestic prices may reduce the availability of Indian sugar for exports, potentially narrowing a global surplus and supporting prices. Overseas sales may slump 43 per cent to 2 million tonnes next season from 3.5 million tonnes this year, Kingsman said.

Sugar prices on the National Commodity & Derivatives Exchange Ltd in Mumbai surged 26 per cent since the end of May on speculation below-average monsoon rain in more than 50 per cent of India will hurt crops from cane to rice and cotton. Futures climbed to Rs 3,672 ($66) on August 4, the highest level since December 2010. The harvest in Maharashtra state, the biggest producer, may drop to 7.5 million tonnes to 7.6 million tonnes next year from 9 million tonnes this year, Kingsman said.

Read more on:   
|
|
|
|
|
|
|

Read More

Agri-commodities prices go down as rainfall improves

With the rainfall picking up in the last few weeks, prices for agri-commodities like sugar, turmeric, potato, pepper and cotton have gone down.

Quick Links

 

Market News

Modi rally sees more fission in stocks

Close to 50 companies have announced stock splits this year so far, something experts say is typical in a bull phase

Public sector banks rally as the govt plans to improve risk management

The ministry has also asked banks to prepare a list of large borrowers

Govt okays share transfers before new Companies Act

Asks companies to carry out registrations even if the transfer was executed under the old regime

Odisha to earn Rs 2,000 cr more yearly

The increase, especially on iron ore, fulfills an old demand from here. Odisha is the top ore producing state

RBI prescribes tighter norms for NBFC to lend against shares

Move to help curb stock market volatility due to offloading by NBFCs

Back to Top